The latest business continuity news from around the world

UK financial regulator, the Financial Conduct Authority (FCA), has suffered a major IT outage after a ‘physical hardware incident at a supplier's data centre’.

The incident, which occurred on Friday 23rd September, has been partially resolved with the FCA currently reporting (Wednesday 28th) that ‘the majority of its systems are now operating’.

The FCA states that recovery arrangements operated as planned, however disruption is still ongoing as the organization continues to test and update its systems.

The is a certain irony about the timing of the incident, with the FCAs Director of Specialist Supervision, Nausicaa Delfas, warning delegates at last week’s FT Cyber Security Summit about the dangers of inadequate business continuity plans. Delfas stated: "Very importantly … firms should have systems and controls to ensure they can carry on in the event of an unforeseen interruption, and to be able to recover from interruptions, preserving essential data. Our observation is that in some cases, current business continuity plans do not work where data are compromised. And timely communication is important – to consumers and markets."


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